Overnight Update: US stocks trimmed some of their gains as indexes seemed to run out of steam

Bell Potter


Overnight Update: US stocks trimmed some of their gains as indexes seemed to run out of steam. Markets opened higher as a surprise rise in consumer confidence index and upbeat earnings results lifted sentiment, but investor appetite appeared to wane by afternoon. Treasury prices held onto slight gains after a solid auction of 2-year notes. Gold futures headed lower for a second session. Crude futures gained, outperforming the rise in Brent crude as traders waited for weekly petroleum supply data. U.K. stocks snapped a five-day losing streak on Tuesday. European stock markets advanced, climbing back from their biggest three-day fall since June last year, as miners rose after a broker upgrade and banks recovered from recent sharp losses. London BHP up 1.24%. Rio up 2.32%. New York BHP up 1.01%. Rio up 2.77% Base metal traded mixed.

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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